Mukesh Gandhi buys a property worth more than 0.5 billion in Khar

27 Jul 2022 CW Team

Mukesh Gandhi, former Angel Broking director, most recently paid S Raheja Realty more than $ 0.5 billion for an opulent duplex home in Mumbai's Khar district.

Gandhi remains a significant shareholder in Angel One, the publicly traded company of Angel Broking, with a nearly 6% stake. The deal values the 5,555-square-foot apartment at more than $ 900 billion per square foot.

The apartment is located on the upper floors of the luxurious Newlight project, a 16-story building made up of two residential towers with a combined 12 storeys, each with 4 levels of platform parking and lifestyle amenities. The project has a total development area of about 200,000 square feet.

The buyer will also have access to 10 parking spaces within the building as part of the deal. The buyer has paid stamp duty in the amount of about Rs. 2.5 crore since the transaction was completed and registered on July 14.

Gandhi joins the group of those involved in stock market operations, which also includes Motilal Oswal and Radhakishan Damani, who have recently purchased expensive homes.

One of these direct transactions took place last year when billionaire investor and founder of Dmart Damani paid 1,001 crore for a bungalow in the affluent Malabar Hill neighborhood of South Mumbai. Damani purchased the property along with his younger brother, Gopikishan Damani. This was the third significant property transaction Damani had made at the beginning of 2021.

For $462.9 billion, Ramdev Agarwal, a stock market investor and the co-founder and chairman of the Motilal Oswal Group, purchased a luxurious duplex flat with a view of the ocean for his family.

Since September 2020, when the state government announced a limited window stamp duty cut, Mumbai, the nation's largest and most costly real estate market, has been setting new benchmarks and records with regard to property transactions.

S Raheja Realty; Mumbai; Real estate market

Mukesh Gandhi, former Angel Broking director, most recently paid S Raheja Realty more than $ 0.5 billion for an opulent duplex home in Mumbai's Khar district. Gandhi remains a significant shareholder in Angel One, the publicly traded company of Angel Broking, with a nearly 6% stake. The deal values the 5,555-square-foot apartment at more than $ 900 billion per square foot. The apartment is located on the upper floors of the luxurious Newlight project, a 16-story building made up of two residential towers with a combined 12 storeys, each with 4 levels of platform parking and lifestyle amenities. The project has a total development area of about 200,000 square feet. The buyer will also have access to 10 parking spaces within the building as part of the deal. The buyer has paid stamp duty in the amount of about Rs. 2.5 crore since the transaction was completed and registered on July 14. Gandhi joins the group of those involved in stock market operations, which also includes Motilal Oswal and Radhakishan Damani, who have recently purchased expensive homes. One of these direct transactions took place last year when billionaire investor and founder of Dmart Damani paid 1,001 crore for a bungalow in the affluent Malabar Hill neighborhood of South Mumbai. Damani purchased the property along with his younger brother, Gopikishan Damani. This was the third significant property transaction Damani had made at the beginning of 2021. For $462.9 billion, Ramdev Agarwal, a stock market investor and the co-founder and chairman of the Motilal Oswal Group, purchased a luxurious duplex flat with a view of the ocean for his family. Since September 2020, when the state government announced a limited window stamp duty cut, Mumbai, the nation's largest and most costly real estate market, has been setting new benchmarks and records with regard to property transactions. See also: Real estate investors are placing large bets on holiday homes K Raheja, Aditya Shagun tie up for 0.5 mn sq ft development in Pune